NOTE 12 – LEASES

Leases that are economically similar to the purchase of an asset are classified as finance leases. The leased, or right-of-use assets in finance lease arrangements are reported in net property, plant and equipment on our condensed consolidated balance sheet. Right-of-use assets and liabilities on our condensed consolidated balance sheet at September 30, 2020 were:


Finance lease:	September 30, 2020
Property, plant and equipment	$	54,376
Accumulated depreciation		40,782
Net property, plant and equipment	$	13,594
Current portion of long-term debt	$	12,324
Long-term debt	$	4,329
Total finance lease liabilities	$	16,653

In December 2019, we signed a one-year operating lease that expires in December 2020 and is amortized on a straight line basis. Other supplemental information regarding our leases are contained in the following tables:


Components of lease expense for the period ended:	September 30, 2020
Operating lease amortization	$	1,883
Finance lease amortization	$	5,438
Finance lease interest	$	793


Weighted average lease term and discount rate at:	September 30, 2020
Finance lease term (years)	1.75
Finance lease rate	8	%


Supplemental cash flow information related to leases for the period ended:	September 30, 2020
Cash used in operating activities	$	1,883
Cash used in financing activities	$	5,807